Circulayo Bolsters Expansion with MEIF II Funding
Deal News | Dec 02, 2024 | Maven Capital Partners
Derby-based company, Circulayo, specializing in transforming the reusable plastics sector, has received debt funding from MEIF II Maven Debt Finance to support its expansion, technological investment, marketing and sales efforts, and to create 20 new jobs. Known for its work in various sectors such as sports and healthcare, Circulayo helps businesses transition towards a circular economy by reducing waste and aiding in achieving ESG goals. Its clientele includes prominent entities like Derby County Football Club, University College London, and University Hospital of Derby and Burton NHS Foundation Trust. Maven Capital Partners, through the Midlands Engine Investment Fund II, facilitated this alternative financing to endorse innovation. CEO Andy Flinn expressed appreciation for the support provided. This initiative aligns with the fund's mission to assist growth-focused SMEs in the Midlands.
Sectors
- Sustainable Technology
- Finance
- Environmental Services
Geography
- United Kingdom – Circulayo is based in Derby, and the funding initiative by MEIF II Maven Debt Finance focuses on the East and South East Midlands regions in the UK.
- Midlands – The Midlands Engine Investment Fund II targets SMEs in the Midlands, supporting regional innovation and growth.
Industry
- Sustainable Technology – Circulayo operates in sustainable technology, aiming to reduce single-use plastics and promote the circular economy.
- Finance – Maven Capital Partners is involved in providing debt financing through MEIF II to support the growth of SMEs.
- Environmental Services – Circulayo’s business model focuses on environmental impact by aiding businesses in achieving ESG goals.
Financials
- – The specific amount of debt funding received by Circulayo is not disclosed, but MEIF II provides loans from £100,000 to £2 million.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Circulayo | Target company | Company | A company focused on transforming the reusable plastics sector. |
| Maven Capital Partners | PE Firm providing debt financing | Company | Investment firm managing MEIF II - Debt Finance for Midlands. |
| Midlands Engine Investment Fund II (MEIF II) | Funding vehicle | Company | Provides debt financing to SMEs in the East and South East Midlands. |
| Derby County Football Club | Client of Circulayo | Company | Sports club working with Circulayo on sustainability efforts. |
| University College London | Client of Circulayo | Company | Educational institution collaborating with Circulayo. |
| University Hospital of Derby and Burton NHS Foundation Trust | Client of Circulayo | Company | Healthcare entity engaged in sustainability practices with Circulayo. |
| Andy Flinn | CEO of Circulayo | Person | Leader of Circulayo, involved in strategic funding efforts. |
| Sajid Sabir | Investment Manager at Maven | Person | Guided the funding process for Circulayo. |
| David Tindall | Senior Investment Manager at British Business Bank | Person | Part of the decision team supporting MEIF II investments. |